Mahindra Lifespaces and Actis have announced the launch of Ample Parks, a joint venture focused on the Indian industrial and logistics real estate market. Ample Parks aims to develop approximately 1.5 million sq m of greenfield and brownfield sites across India in the coming years. Under the leadership of Chief Executive Officer Akash Rastogi, the platform intends to provide industrial and logistics real estate solutions to both global and local corporations.
The newly established company has already marked its entry with a substantial acquisition. Ample Parks has secured a 70-acre industrial land parcel within Mahindra World City, Chennai. This prime location will be transformed into an integrated industrial and logistics park featuring institutional-grade buildings. The park is strategically positioned to leverage Mahindra World City’s excellent infrastructure, including road, rail, and port connectivity, as well as its skilled workforce.
Brian Chinappi, Partner and Head of Real Estate, Actis, expressed enthusiasm about the venture’s launch: “I’m delighted to see Ample Parks get off the ground with this first acquisition. India’s industrial and logistics sector represents a tremendous investment opportunity, with the country’s market strongly benefitting from a boom in consumer demand domestically and a realignment of supply chains globally in favour of India, with many corporations implementing a China Plus One strategy. By bringing to bear Actis’ track record in sustainable real estate and Mahindra Lifespaces’ broader market expertise, Ample Parks is set to become a key player in this space, capitalising on the growth of this new economy real estate for our investors.”
Amit Sinha, Managing Director and Chief Executive Officer, Mahindra Lifespaces, highlighted the strategic importance of the joint venture: “The launch of Ample Parks marks a significant milestone in our commitment to developing sustainable and world-class industrial infrastructure in India. By combining Actis’s global expertise with our deep understanding of the Indian market, we are poised to create a transformative platform to meet the evolving needs of businesses. This initiative fits well into the state-of-the-art facilities within an already established, self-contained ecosystem. We are excited about the potential of Ample Parks for not only building on the success of Mahindra World City but also contributing significantly to India’s broader industrial and logistics landscape.”
Akash Rastogi, Chief Executive Officer and Director, Ample Parks shared his vision for the new venture: “We are thrilled to launch our presence in Chennai at one of the most preferred industrial locations. We believe that the ongoing decentralisation of manufacturing capacity from China, coupled with government initiatives such as ‘Make In India’ and the ‘Production Linked Incentive (PLI) scheme,’ will immensely enhance manufacturing and logistics prospects in India. Our first project will comprise approximately 2 million sqft of Grade A industrial development that can offer plug-and-play facilities as well as bespoke built-to-suit solutions to a diverse set of customers and allow for scalability. Sustainability will be integral to this development and will enable businesses to operate efficiently while minimising their environmental impact. We are excited to embark on this journey and are committed to delivering excellence at every turn.”
Raghvendra Chandak, Director, Real Estate, Actis, added: “This is a great first step for Ample Parks to develop this project at a strategic location in the thriving industrial ecosystem in Chennai. Our aspiration is for the platform to become one of the industrial and warehousing space providers of choice in India, with solutions tailored to meet the needs of industrial customers and supply chain operators. We’re putting everything in place to achieve this, starting with a top-tier management team, so Ample Parks grows to become a shining light in India’s industrial and logistics real estate sector and plays a pivotal role in bolstering India’s industrial infrastructure.”
With Actis holding a majority stake and Mahindra Lifespaces a significant minority stake, Ample Parks will benefit from Actis’ global network and real estate expertise and Mahindra Lifespaces’ access to prime land parcels and key market relationships. This joint venture represents a new chapter in India’s industrial and logistics real estate landscape, setting the stage for significant growth and innovation.